Aussie LNG export revenue falls 25% in FY2023-24 due to softer prices: EnergyQuest

Australian LNG export revenue in the 12 months to June 2024 (FY2023-24) was A$69.5bn ($46.6bn), down 25% year/year due to softer international prices, energy consultant EnergyQuest reported on July 15.

The country shipped 81.7mn tonnes of LNG in FY2023-24, compared with 81.9mn tonnes in the previous year. However, these results compare favourably with FY2021-22, when total shipments were 82.5mn tonnes, and total revenue was A$70.6bn, according to EnergyQuest.

EnergyQuest estimates that Australian LNG export revenue in June 2024 was A$5.66mn, an increase from A$5.47bn in May and reflecting a 5% increase compared with June 2023, when revenue was A$5.40bn.

Western Australian projects earned export revenue of A$3.38bn, Queensland projects brought in A$1.66bn, and Northern Territory projects earned A$0.62bn.

Overall, Australia’s June 2024 shipments were 81.5mn tonnes/year on an annualised basis, compared with 81.1mn tonnes/year for the calendar year 2023 and 75.3mn tonnes/year for May 2024. June 2024 shipments represented 92% of nameplate capacity.